Basic Concepts and Definitions - Assessee - Assessment year – Income - Person - Previous year - Residence and Incidence of Tax – Tax free incomes – Capital and revenue.

Income under different heads of income – Salaries – Definitions – Features – Perquisites - Valuation and taxability of perquisites – Taxability of allowances – Profits in lieu of salary – Deductions – Computation of Salary Income.

Income from House Property – Annual value – Determination of Annual Value – Let out House – Self Occupied Houses - Deductions – Computation of Income from House Property.

Profits and Gains of Business or Profession – Depreciation and Other Allowances – Expressly Allowed and Disallowed Deductions – Computation of Business Income – Computation of Professional Income.

Income Tax Authorities – CBDT – Powers – Director General of Income Tax – Chief Commissioner of Income Tax – Assessing Officer – Appointment – Jurisdiction – Powers relating to Search and Seizure.